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To: wardaddy
If you’re self employed like me then you pay almost 20,000 a year in FICA

Even if you work for Megacorp.com, you still pay the full amount of socialist insecurity and mediscare taxes. It all comes out of the pot of money your employer has available to cover payroll.

179 posted on 02/08/2016 1:03:12 PM PST by NorthMountain ("The time has come", the Walrus said, "to talk of many things")
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To: NorthMountain

its not the same thing

In your case you pay half and your employer matches

If you are a sole proprietorship or sole owner of an LLC like me

You pay both halves

Roughly 20,000 year end year out as a self employment tax

Double what a max earner for someone else pays from their pocket


184 posted on 02/08/2016 1:19:07 PM PST by wardaddy (Boy the nasties are sure out in force here.....I hope someone is saving this)
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